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The Johnson Company began operations on January 1st when its owners invested $60,000. The following information was available at the end of January: Inventory $14,800, Accounts payable $8,200, Accounts receivable $7,400, Cash $9,500, Equipment $64,000, Notes payable $74,000, Revenue $132,000, Supplies expense $1,200, Utilities expense $2,400, Wage expense $18,900, Cost of Goods Sold $105,000 and Dividends $2,500. What is the company's net income for the month?
What is the difference between internal documentation and external documentation? Examples? Which type is considered more reliable?
1. Prepare all appropriate journal entries relative to uncollectible accounts and bad debt expense. 2. Show the year-end balance sheet presentation for accounts receivable.
Research a specific company in one of the business sectors that interests you and describe how you imagine it might be to work there. Use 100 to 150 words for your description.
1. forbes company uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to
During the preparation of the bank reconciliation for New Concepts Co., Peter Fikes, the assistant controller, discovered that City National Bank incorrectly recorded a $710 check written by New Concepts Co. as $170.
luke who retired this year lives in a four-plex owned by julie. lukes income decreased when he retired and he now has
Shue, a partner in the Financial Broker Partnership, has a 30% share in partnership profits and losses. Shue's capital account had a net decrease of $100,000 during 2003. During 2003, Shue withdrew $240,000 as withdrawals and contributed equipment..
A business paid 100 to cash to Karen Smith (the owner of the business) for her personal use. Set up the necessary T accounts and show how this transaction would be recorded directly to those accounts
Which of the following trade(s) contain mainly basis risk?
bill anders retires in 8 years. he has 650000 to invest and is considering a franchise for a fast-food outlet. he would
ursula company maintains a petty cash fund for small expenditures. the following transactions occurred over a 2-month
Mark Company currently sells a video recorder with a selling price of $300 per unit. The variable expense per unit is $175 and fixed expenses are $100,000. If the company reduces variable expenses by $20 per unit and increases the fixed expenses b..
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